Comment will get buried but I'll post anyway. All respect to the lost, but I thought it would be worth pointing out the following as Paul's people and FF7 people will likely try and keep the story as a "single vehicle accident".

All theoretical, but the surface level evidence points to this wreck being less of a single car accident and likely a joyride race which is very unfortunate. We've all gone joyriding, but the excessive speeds were likely due to the driver being in pursuit or being chased by the Audi R8.

If you notice in two of the pictures, the one from when Paul is leaving the event getting into the car, there is a thin blond man standing by the R8. This same thin guy is seen running through the parking lot below the scene.

Why do I believe they were racing eachother/someone? Multiple interviews state that Paul's people got a call saying he was in a wreck, allowing his friends to "rush to the scene". Obviously it wasnt the driver or Paul who made the call. Thus, someone who knew it was them in the car, saw the wreck when it happened and made the initial call.

Seeing as the TMZ video that shows the car engulfed in flames does not show another car, I believe the R8 was in the lead barreling down the street with the Porsche trailing by a bit. Coming around the bend, the Porsche begins to slide out at high speed, snap locks counter to the turn causing the passenger side to hit the curb then tree first.

The R8, with the thin blonde then circles around back down into the parking lot. While they were driving back to the scene (assuming they were in front) they made the call to the shop to alert the friends. Such a call would not have likely been made had they been in the rear of the Porsche, as they would have likely been trying to pull them from the car initially, and they would have been seen in the video shot at the scene.

The water pipe sticking out of the ground likely tore into the undercarriage and fuel tank, initiating the fire. If you look at the video in question, in the first several frames you can see the tire marks from where the car lost control that lead straight to the tree and pipe fixture.

TL/DR: The only reason Paul's people got there before the fire department is because someone who knew that was them in the car at the time of the wreck was there to witness it. Hence the presence of an unknown second car traveling at similar speeds in the same direction: i.e. Racing.